Terrence B. Walsh

Capital is abundant, but access isn’t. Firms needing USD 10m+ are caught between banks and PE. CPPE bridges the gap. Read: 🔗 terrencewalsh.substack.com/p/from-stalled… #CapitalRaising #CorporateFinance #ProjectFinance

If Congress passes $2K-per-person “tariff dividends” (excluding the rich), the dividends will exceed tariff revenue. Consumers will use the extra income to buy more expensive imports, despite the tariffs, increasing our trade deficit which defeats the very purpose of the tariffs.

The pathetic #feloninchief will do/say anything for support. Evident last year during the run up. He only has credibility with hardcore #magafools . He is transparent to the rest of the planet. #ReleaseTheTrumpEpsteinFiles #TrumpsGovernmentShutdown

US investors are increasingly buying Japanese stocks focused on tech and artificial intelligence, lured by the country’s outsized returns compared with US stocks, according to Goldman. bloomberg.com/news/articles/…

@PeterSchiff Trump is as credible as a $3 bill.

Trump claimed that the U.S. is now taking in trillions per year in tariffs. That’s a lie. He also claimed that tariff revenue is so large that soon our annual federal budget deficits will turn into surpluses, allowing us to pay down the national debt. That’s an even bigger lie.

@KobeissiLetter Are you really that gullible ? He will do/say anything for support/votes. #magafools #unfollow

BREAKING: President Trump announces that he will be paying a “tariff dividend” of at least $2,000 per person. Stimulus checks are officially back.

@charliebilello Institutional managers better ensure their portfolio architecture is in place. Convexity, Capital Protection, downside protection. Primitive & crowded hedging strategies circa 2008 is gambling, not asset/risk management. #portfolio #RiskManagement #hedging #downsideprotection

1. Stocks: all-time high 2. Home Prices: all-time high 3. Bitcoin: all-time high 4. Gold: all-time high 5. Money Supply: all-time high 6. National Debt: all-time high 7. CPI Inflation: 4% per year since Jan 2020, 2x the Fed's "target" 8. Fed: cutting rates again next week

Debt up ~$1T/70d. S&P/Dow/Nasdaq near all-time highs. 10-year ~4%. Investment committees: set max loss, name the guarantor, keep cash and short Treasuries. Architecture over opinion. #riskmanagement #capitalprotection

Bitcoin volatility is a governance problem open.substack.com/pub/terrencewa… #Bitcoin #InstitutionalInvesting #CapitalProtection #RiskManagement

@AP Is anybody even remotely surprised. The ignorance and incompetence of the #FelonInChief & #cosplaycabinet has no floor. #NewZealand #TrumpEpsteinFiles

FBI Director Kash Patel gave New Zealand officials inoperable 3D-printed guns in July that were illegal to possess under local laws. apnews.com/article/kash-p…

@RayDalio As always, exceptional advice. Thank you sir.

So I certainly don’t want to dissuade you from going after whatever you want. At the same time, I urge you to reflect on whether what you are going after is consistent with your nature. Whatever your nature is, there are many paths that will suit you, so don’t fixate on just one. Should a particular path close, all you have to do is find another good one consistent with what you’re like. #principleoftheday

@charliebilello This concentration turns “diversified” into one big bet. Rebalance should be by risk, not USD amount. Pair capital protection with selective participation to keep upside with control. #InstitutionalInvesting #AssetAllocation #RiskManagement #PortfolioConstruction

The top 10 holdings in the S&P 500 now make up nearly 39% of the index, the highest concentration on record. bilello.blog/newsletter

@elerianm Record highs are noise without governance. Institutions need capital protection, disciplined participation, and audit-ready reporting in gold. The brief we serve. #Gold #InstitutionalInvesting #CapitalProtection #RiskManagement

And speaking of gold, the precious metal marked yet another record high this morning. #gold #markets #investing #investors

When liquidity dries up, credible structures matter: protection on the downside, participation on the upside. #InstitutionalInvesting #MacroStrategy #RiskManagement

Commercial property developers can qualify for protected capital structures that de-risk balance sheets and share in recovery gains. #RealEstate #CapitalProtection #PortfolioConstruction

MINE at 62. 70 BID !

@RobertAlanWard beautiful !

This morning’s walk cont - more mist and a glorious autumn 🍂 sky. Not long after sunrise. #Cotswolds

UST vol is calmer and issuance tactics hint at rate control. That helps fund deficits, but it does not make USD only down. The dollar tracks growth and real-rate spreads. If cuts outrun growth, USD softens; else range. #USD #Rates #Macro

Loyalty to specific people who are not in tight sync with the mission and how to achieve it will create factionalism and undermine the well-being of the community. It is often the case, and quite beautiful, that personal loyalties exist. However, it is also often the case, and quite ugly, when personal loyalties come into conflict with the organization's interests. #principleoftheday

Crisis financing can preserve value when structures protect principal and align upside with recovery. #CapitalProtection #VolatilityControl #MacroStrategy